top 5 rental technology tools - landlordology - lucas hall
DESCRIPTION
Like never before, landlords and property managers are able to automate their rental properties, thereby saving time, money, and headache. This presentation will teach you how to implement the most useful technologies into your rental property or property management business, from application to move-out. As an independent landlord, and technology consultant, these tech tools have significantly improved rental business. Lucas is the Chief Landlordologist at Cozy. He has been a successful landlord for almost 10 years, with dozens of happy tenants and a profitable income property portfolio. Landlordology is brought you by Cozy, which provides free, simple, end-to-end rental management software for landlords and tenants. Learn more at https://cozy.coTRANSCRIPT
RENTAL MANAGEMENTTECHNOLOGIES5
TOP
BY LUCAS HALL
MY STORYLucas Hall, PMP • Landlord, ~10 yrs
• 4 Properties / 17 Tenants
• Founder, Landlordology
• Community Mgr, Cozy
• IT Gov’t Consultant
OUR INVESTORS
Online Applications, Rent Payments & Tenant Screening
FREE
WE’RE EVERYWHERE
TECHNOLOGY
BLESSING?
© SIEMENS
PROMISES TO• Connect You
• Solve Problems
• Save Time
• Increase Profits
SOFTWARE +
RELATIONSHIP
CURSE?
© C2 AND ITS ENTITIES
BUT OFTEN DELIVERS• Confusing
Features
• Learning Curves
• Partial Solutions
• Ongoing Maintenance
COMPLEX & OVERWHELMING
WHAT’S THE DIFFERENCE?
YOU!
VS
LANDLORDS
PROP. MGRS
(RALPH FURLEY)
(THE GATE KEEPER)© MARVEL AND PARAMOUNT PICTURES
LANDLORDS1. Manage only their own properties
2. Some are accidental
3. Most have other (full-time) jobs
4. Are involved w/ maintenance
5. Report earnings/losses on 1040s
PROPERTY MANAGERS1. Manage dozens/hundreds of units
2. Are the middlemen
3. Reporting/accounting are paramount
4. Are more organized than landlords
RENTAL TECHNOLOGIES
TOP 5
CLOUDTHE
1. ONLINE APPLICATIONS
BENEFITS1. Minimizes barriers
2. Easily sharable
3. Consolidated applicants
4. Faxes / Scanners going extinct
2. ONLINE CREDIT REPORTS
BENEFITS1. “Soft inquiries”
2. No entity or site visit required
3. Identity verification
4. Integration
5. Mitigates storage requirements
1. Experian Connect
2. TransUnion SmartMove
3. Equifax Identity Report
DATA SOURCES & TOOLS
CREDIT BUREAU
SOFTWARE
LANDLORD TENANT
DISCONNECTED PROCESS
CREDIT BUREAU
SOFTWARE
LANDLORD TENANT
SEMI-INTEGRATED PROCESS
API
CREDIT BUREAU
SOFTWARE
LANDLORD TENANT
INTEGRATED PROCESS
API
3. DIGITAL SIGNATURES
BENEFITS1. Easier, quicker, & more efficient
2. Legally binding
3. Remote signings!
4. Online storage
5. Complies w/ federal & state regs
SIGNING TOOLS1. HelloSign
2. SignNow
3. DocuSign
4. Property Management Software
4. ONLINE RENT COLLECTION
BENEFITS1. No more checks
2. Can be automatic
3. You get paid faster
4. Easier for everyone
5. Decrease in late rent
5. INSPECTIONS
INSPECTION TOOLS1. Happy Inspector
2. zInspector
3. Smart Phone Apps
4. Property Management Software
RENTAL SOFTWARESINGLE
SERVICEMULTIPLESERVICES
THE KITCHEN SINK
COST VS. FEATURES
COST
FEATURESO
TOP CHOICES1. Landlords
1-20 self-managed units
2. Small PMs20-100 units
3. Large PMs 100-1000’s units
SO WHAT?
HOW WILL YOU IMPROVE?
!© 2012-2014 Cozy Services Ltd. All rights reserved.
!
www.cozy.co
(IT’S FREE)